Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
ram1152

0 Contributions
0 People Helped
credit limt increase
I recieved a credit limit increase of $3000 over 3 cards.Instead off getting a credit score increase i got a 5 point drop from both agency's.I care a 0 balance from month to month.So why the decrease in my score's .Any advice.Thank You

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
46 Contributions
26 People Helped

Don't Worry

The scores that matter in most instances aren't these and it's more likely that they rose. Really just use the site as a guideline to estimate where you might be, but for the most part they're really off.

Top Contributor
986 Contributions
545 People Helped

The two may not be directly related, unless the increases cost you a hard inquiry or two, limit increas in itself usually won't better your scores, higher scores are usually from lowering your utilizations, also take look at the balances been reported, are they same as last time? Even tho you pay in full every months but it's the balance on the date it reports that goes into your utilizations.

Top Contributor
935 Contributions
131 People Helped

Check your inquiries to see if it was a hard pull.    If the increase was given without asking, it probably didn't hurt you at all.  If you asked for it, they may have done a hard inquiry which could account for the decrease.  If you got a 5 point drop from each bureau here, it sounds like each was a hard pull, one to each.  While you carry a zero balance from month to month, you want to ensure your payment is before they report to the bureau.   I found that carrying a small balance when it is reporting does help the score.  If it is contstantly reported as zero as the balance, it does not show using the credit and has a negative effect on the overall score.  

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.